Last quote about Sinopec
All quotes about Sinopec
We hope by February next year we should have identified a lead investor.
[Guangdong Zhenrong] is just a political vehicle. It could subcontract to engineering divisions of Sinopec and CNPC ... The big oils prefer to keep a low profile, not being seen helping PDVSA directly.
Building on the success of the joint petrochemical project, we hope business cooperation between the two companies to be stronger.
Pipelines have many add-on costs, such as maintenance fees going back two to three decades. The details will help third parties to better adjust cost and profit of a project and make the market more transparent.
It's a good time for Sinopec to recoup at least part of its investment over the years and finance more pipeline capacity building while still able to maintain a controlling stake.
It's not a totally a big surprise at this low production level given the field just came back from maintenance.